Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Investor Presentation (May 2017)
38 slides from Il&fs Transportation Networks's investor presentation, May 29, 2017
Slide 1: IL&FS Transportation Networks Limited Analyst Presentation – May 2017
IL&FS Transportation Networks Limited Analyst Presentation – May 2017 May 29, 2017 CIN - L45203MH2000PLC129790
Slide 2: Disclaimer
Disclaimer This presentation has been prepared solely by IL&FS Transportation Networks Limited (“ITNL”) and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or s
Slide 3: In this presentation…
In this presentation… — Company Overview — BOT Toll Revenue Growth — Portfolio – Road Projects — Awards & Accolades — Operational Highlights — IL&FS – Strong Parentage — Financing Highlights — Board of Directors — Road Sector Opportunity — Road Projects — Project Pipeline — Glossary — Order Book — P
Slide 4: Company Overview
Company Overview § IL&FS Transportation Networks Limited (ITNL) is a leading surface transportation infrastructure company and the largest private sector BoT road Jammu & Kashmir operator (in terms of lane kilometer) in India* § ITNL has a pan India presence with projects in several states in India
Slide 5: Portfolio: Road Projects
Portfolio: Road Projects • Diverse BOT portfolio of 30 road projects covering 14,016 lane km spread across several states in India Kiratpur Ner • Diverse mix of “Annuity / assured payments” and “Toll” based projects in various stages of development Chowk FGEL@@ GRBDC@ Barwa Adda (ROB) Chenani ACEL@@
Slide 6: Operational Highlights
Operational Highlights § Of our 35 total projects, operational projects are 27 (23 road projects) § Total road lane kms: 14,016 lane kms § Received commercial operation date (COD) for: § Chenani Nashri Tunnelway Ltd (CNTL) - March 8, 2017 § Khed Sinnar Expressway Ltd (KSEL) - January 31, 2017 § Rapi
Slide 7: Operational highlights
Operational highlights Mr. Narendra Modi has inaugurated India’s longest highway tunnel, Chenani Nashri Tunnelway Ltd on April 2, 2017 • Length of tunnel: 9Km • Annuity: ₹ 635 crores 6 • Commercial operations date: March 8, 2017
Slide 8: Operational highlights
Operational highlights Khed Sinnar Expressway Limited Rapid Metro Gurgaon South Extension Limited • Length of road: 557 Lane km • Length: 7 km • Commercial operations date: January 31, 2017 • Commercial operations date: March 31, 2017 • 7 • Toll Project with staggered Toll Plazas Concession Period:
Slide 9: Financing Highlights
Financing Highlights § Post Financial Closure, successfully down-sold senior debt to a wider group of banks: § ₹ 1,100 crores - Khed Sinnar Expressway Limited § ₹ 1,440 crores - Barwa Adda Expressway Limited § Refinanced debt in 3 projects (2 Annuity & 1 Toll) by issue of Non Convertible Debentures/
Slide 10: Road Sector Opportunity
Road Sector Opportunity ~11,622 km of awards pending under NHDP • India’s road network increased to 4.2 million km from 3.3 Program To be awarded (in Km) million km NHDP-III 1,747 • Only 25% of National Highways are four/six/eight lane. The NHDP was formed for improving more than 49,260 km of NHDP-I
Slide 11: Project Pipeline
Project Pipeline As on May 25, 2017 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification)** Projects Length (km) Cost (INR Cr) Projects Length (km) Cost (INR Cr) NHAI 5 349 8,344 1 124 7,523 MORTH 4 245 3,500 - - - STATE* 12 1,112 19,748 1 701 27,650 Total 21 1,706 31,592 2 825 3
Slide 12: Order Book: Composition & Spread
Order Book: Composition & Spread BOT Order book – Project Type BOT Order book – Geographic Spread Jammu & Kashmir 1% 24.17% Road- Annuity 28% Himachal Pradesh 14.86% Road- Toll 71% Rajasthan 4.79% Non Road Assam Madhya Pradesh Meghalaya 1.43 0.10% West Bengal & Jharkhand Gujarat 7.54% BOT Order book
Slide 13: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in INR Crore) Consolidated Standalone Key Parameters FY17 FY16 % Change FY17 FY16 % Change Revenue 7984 8036 -1% 3401 4382 -22% Other Income 417 321 30% 1000 669 49% EBITDA 3577 2843 26% 1588 1099 45% EBITDA Margin 43% 34% 36% 22% Interest 3086 2574 20%
Slide 14: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in INR Crore) (in INR Crore) 6,000 6000 4,000 4000 1378 1212 2,000 3,864 2000 3,078 3311 2467 0 0 FY17 FY16 FY17 FY16 Constr Income Fee Income O&M Income Other Income Construction Cost Finance Cost Other Operating Expenses Employees cost Admin & Genera
Slide 15: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in INR Crore) (in INR Crore) 10,000 10000 8,000 8000 6,000 6000 2574 3086 4,000 4000 5,447 5,411 2,000 2000 3924 3105 0 0 FY17 FY16 FY17 FY16 Constr Income Elsamex Toll/Annuity Other Construction Cost Finance Cost Other Operating Expenses Employees c
Slide 16: Reconciliation – IGAAP to IndAS (Standalone results)
Reconciliation – IGAAP to IndAS (Standalone results) ₹ crore Profit & Loss Equity Year ended As at Particulars March 31, 2016 March 31, 2016 (Audited) (Audited) Net profit (after tax) / Equity under previous GAAP 173.49 4,309.72 Dividend on Preference shares classified as Finance Costs (99.92) NA Ad
Slide 17: Reconciliation – IGAAP to IndAS (Consolidated results)
Reconciliation – IGAAP to IndAS (Consolidated results) ₹ crore Profit & Loss Equity Year ended As at Particulars March 31, 2016 March 31, 2016 Net profit (after tax) / Equity under previous GAAP* 311.54 6,693.35 Proposed equity dividend reversed (including Dividend Distribution Tax) - 81.30 Preferen
Slide 18: Revenue Collection on Operational Road Projects
Revenue Collection on Operational Road Projects Not adjusted for ITNL’s stake Average Daily Toll Collection (All figures in INR Cr) Toll Projects under Operation In Q4 FY 17 In Q3 FY 17 In Q2 FY 17 In Q1 FY 17 GRICL (Gujarat) 0.42 0.41 0.37 0.41 Mega Highways – Rajasthan* 1.00 0.60 0.80 0.80 Mega Hi
Slide 19: BOT Toll Revenue Growth
BOT Toll Revenue Growth Toll Revenue (INR in Crore) Sr.No Name of the Project 2012-13 2013-14 2014-15 2015-16 2016-17 start date 1 Ahmedabad Mehsana Road (Gujarat) Feb-03 107 108 120 129 151 2 Vadodra Halol Road (Gujarat) Oct-00 3 Mega Highways - Rajasthan (Ph - I) Mar-08 166 184 189 223 290 Mega Hi
Slide 20: Awards & Accolades
Awards & Accolades Golden Peacock Award Tunnelling Project of the Year ITNL has been declared as the Winner of “Golden Tunnelling Association of India (TAI) has conferred Peacock Award for Corporate Social the “TAI Tunnelling Project of the Year Award” to Responsibility” for the year 2016 ITNL for e
Slide 21: IL&FS - Strong Parentage
IL&FS - Strong Parentage IL&FS Overview § Incorporated in 1987 as a JV between the Central Bank of India (CBI), Our Parent Shareholding IL&FS Shareholding Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI) to commercialize infrastructure projects and work with publi
Slide 22: Experienced Board of Directors
Experienced Board of Directors Independent Directors Non-Independent Directors Name Designation / Background Name Designation Mr Deepak Mr Ravi Chairman; Former Chairman, NHAI Chairman, IL&FS Dasgupta Parthasarthy Mr Hari Sankaran Vice Chairman and MD, IL&FS Mr RC Sinha Former Vice Chairman & MD, Ma
Slide 23: Key Managerial Personnel
Key Managerial Personnel K. Ramchand • He has over 32 years of experience in urban and transport infrastructure development sector Managing Director Mukund Sapre • He has over 28 years of experience in the industry Executive Director Harish Mathur Technical Director • Has over 33 years of experience
Slide 24: Road Projects
Road Projects 23
Slide 25: Projects Under Operation
Projects Under Operation North Karnataka West Gujarat Expressway Vadodara Halol Toll Road Ahmedabad - Mehsana Name of Project Noida Toll Bridge (NTBCL) Expressway Limited (NKEL) Limited (WGEL) (GRICL) Road (GRICL) Authority NHAI NHAI NOIDA Govt. of Gujarat Govt. of Gujarat State Karnataka Gujarat De
Slide 26: Projects Under Operation
Projects Under Operation Thiruvananthapuram City Roads (Phase I Mega Highways Project Rajasthan Name of Project Narketpally - Addanki (NAMEL) & II) (TRDCL) (RIDCOR) Phase I & II Authority KRFB Govt. of Andhra Pradesh Govt. of Rajasthan State Kerala Andhra Pradesh Rajasthan Concession Type Annuity To
Slide 27: Projects Under Operation
Projects Under Operation Pune Sholapur Road East Hyderabad Jharkhand Accelerated Road Development Hazaribagh Ranchi Name of Project Development Company Expressway Ltd (EHEL) Programme (JRPICL) Expressway Limited (HREL) Limited (PSRDCL) Authority HUDA GOJ NHAI NHAI State Andhra Pradesh Jharkhand Jhar
Slide 28: Projects Under Operation
Projects Under Operation Name of Project Beawar Gomti Road (IRIDCL) Moradabad to Bareilly (MBEL) Chandrapur Warora (WCBTRL) Sikar Bikaner Authority Department of Road NHAI PWD, Maharashtra PWD, Rajasthan Transportation and Highways, GOI State Rajasthan Uttar Pradesh Maharashtra Rajasthan Concession
Slide 29: Projects Under Operation
Projects Under Operation Thiruvananthapuram City Roads Jorabat Shillong Mega Highways Project, Name of Project Baleshwar Kharagpur Road (BKEL) (Phase II & III) (TRDCL) (JSEL) Rajasthan (RIDCOR) III Authority NHAI NHAI Govt. of Rajasthan KRFB State Assam & Meghalaya West Bengal & Orissa Rajasthan Ker
Slide 30: Projects Under Operation
Projects Under Operation Name of Project Chennani - Nashri (CNTL) Khed Sinnar Authority NHAI NHAI State Jammu & Kashmir Maharashtra Concession Type Annuity Toll Project (Lane Km) 38 557 Project Cost (Rs Cr) 5269 2015 Debt Outstanding as at March 31, 2017 (Rs. Cr) (Long 3942 1129 Term ) GRANT (Rs. Cr
Slide 31: Status – Project under Construction
Status – Project under Construction Construction Progress Scheduled Project Completion Date BAEL Dec-17 KNC Feb-18 IRIDCL-II TBF* RRR VII Aug-18 Projects getting operational in the next 18 months SSTL Apr-20 FSEL May-19 ACEL May-19 GRBDCL Jul-19 Constructed To be Constructed * Appointed date to be f
Slide 32: Project Development / Construction
Project Development / Construction Name of Project Kiratpur Ner Chowk (KNEL) Barwa Adda Panagarh Beawer Gomti (Additional) Authority NHAI NHAI MoRTH State Himachal Pradesh Jharkhand & Rajasthan West Bengal BOT Type Toll Toll Toll Project (Lane Km) 327 727 216 Project Cost (Rs Cr) 2291 2452 1387 Debt
Slide 33: Project Development / Construction
Project Development / Construction Name of Project Srinagar Sonmarg Tunnelway Limited Fagne – Gujarat / Maharashtra Border Amravati – Chikhli Authority BRO NHAI NHAI State Jammu & Kashmir Maharashtra Maharashtra BOT Type Annuity Toll Toll Project (Lane Km) 34 698 970 Project Cost (Rs Cr) 3289 1886 2
Slide 34: Project Development / Construction
Project Development / Construction Name of Project .GRICL Rail Bridge Development Company Ltd. (GRBDCL) RRR Section 2 Authority Government of Gujarat GoJ State Gujarat Jharkhand BOT Type Annuity Annuity Project (Lane Km) 34 160 Project Cost (Rs Cr) 251 640 Debt Outstanding as at March 31, 2017 (Rs.
Slide 35: Glossary
Glossary Acronym Full Form IL&FS Infrastructure Leasing and Financial Services ITNL IL&FS Transportation Networks Limited SPV Special Purpose Vehicle BOT Build Operate Transfer HUDA Haryana Urban Development Authority COD Commercial Operation Date NHDP National Highway Development Plan SARDP Special
Slide 36: Glossary
Glossary Acronym Full Form JARDP/JRPICL Jharkhand Accelerated Road Development Programme / Jharkhand Road Projects Implementation Company Limited RPR II (Part of JRPICL I) Patratu Dam – Ramgarh Road CKC (Part of JRPICL II) Chaibasa Kandra Chowka Road CNTL Chenani Nashri Tunnelway Limited WCBTRL Waro
Slide 37: Glossary
Glossary Acronym Full Form NKEL North Karnataka Expressway Limited APEL Andhra Pradesh Expressway Limited HREL Hazirabagh Ranchi Expressway Limited EHEL East Hyderabad Expressway Limited GRICL Gujarat Road and Infrastructure Company Limited WGEL West Gujarat Expressway Limited NTBCL Noida Toll Bridg
Slide 38: Thank You
Thank You IL&FS Transportation Networks Limited The IL&FS Financial Centre C-22, G Block, Bandra Kurla Complex Bandra (East), Mumbai – 400 051 Board: +91 22 2653 3333 Fax: +91 22 2652 3979 Email: itnlinvestor@ilfsindia.com 37
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